$3.3 BILLION
INVESTED IN IDB MEMBER COUNTRIES
OVER THE PAST 5 YEARS
The Bank also approved ID65 million ($100 million)
for the development of Emirates Aluminum (EMAL)
expansion project which will augment the existing
production capacity of approximately 0.724 million
tonnes of aluminium per annum (tpa) to 1.3 million tpa.
The project will enable EMAL to be not only the largest
single-site aluminum smelter in the world, but also be
one of the lowest cost producer globally, positioning
it as a competitive supplier of aluminum products and
the largest export-oriented industry in the UAE outside
the oil & gas sector. Besides strengthening the position
of UAE in the metal manufacturing sector, the project
is expected to create 900 additional jobs as well as
doubling EMAL’s revenues from $ 1.8 billion in 2012, to
$ 3.7 billion by 2015.
A Line of Financing in favor of Indonesia EXIM Bank
for an amount of ID29.2 million ($45 million) was also
approved, using an innovative two-stage Murabaha
(Installment Sale) structure. Under this facility,
companies operating in export oriented sectors of
manufacturing and energy would be targeted to support
investments in technology, logistics and R&D, in order
to strengthen their competitiveness in the global market
place.
As an essential part of the Deauville Partnership,
the Bank continues to play an active role in the Arab
Financing Facility for Infrastructure (AFFI). This key
initiative has been established as a vehicle by IDB,
World Bank and IFC to jointly promote and co-invest
in PPP programs in the Arab World. The first Policy
Forum of AFFI took place in Amman in April 2011 and
a second in Marrakesh on April, 2012. The Technical
Assistance Facility (TAF) to assist preparation of PPP
infrastructure projects became operational in 1433H.
Subscription Agreements have also been signed with
the Fund Manager (EMP) for the Arab Infrastructure
Investment Vehicle (AIIV) which will provide mezzanine
infrastructure financing on a commercial basis.
The Bank’s PPP portfolio will continue to build on its
successes and expand its activities during the coming
years. PPP’s regional impact continues to broaden in
order to include member countries from sub-Saharan
Africa and Central Asia. In addition to geography,
substantial resource allocation is being made to develop
untapped soft infrastructure sectors of healthcare,
education and agriculture.
1433H AT A GLANCE
$335 MILLION
APPROVED FOR FIVE PPP OPERATIONS ACROSS
THE IDB MEMBER COUNTRIES
$153 MILLION
DISBURSED FOR ON-GOING PPP OPERATIONS
ACROSS THE IDB MEMBER COUNTRIES
2007-2012
Besides strengthening the position
of UAE in the Metal Manufacturing
Sector, the project is expected
to create
900 additional jobs
as
well as doubling EMAL’s revenues
from
$ 1.8 billion in 2012, to $ 3.7
billion by 2015.
PPP
